Word: rosee
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Dates: during 1960-1969
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Unexpected support for the Administration came last week from New York's Senator Jacob Javits, a liberal Republican and sometime critic of the U.S. role in Viet Nam. Fresh from a week's visit to Saigon, Javits rose on the floor of the Senate to declare that "the President would and should have the support of the overwhelming majority of the American people if he decides to resume the limited bombing." Challenging Mansfield's recent jeremiad foreseeing a "bottomless Asian land war," Javits argued that "militarily, the situation is at least encouraging"; that "the impact...
Flight of the Middle Class. Field Enterprises is moving into the suburbs at the right time, for suburban dailies have never been more prosperous. While the circulation of metropolitan dailies rose a scant 1.9% from 1945 to 1962, the circulation of suburban dailies jumped 80.5%. The combined circulation of New York City's six competing dailies declined in the past decade, while out on Long Island, the nation's biggest suburban daily, Newsday,* almost doubled its circulation from...
Chief among these problems is the danger of inflation. While Johnson argued that the U.S. is not yet caught in a real price spiral, his Labor Department reported last week that the cost of living in December rose faster than in any December in 15 years-up 0.4%, to 111% of the 1957-59 average. In all, consumer prices last year climbed 2% primarily because of higher tags on meat (up 13.5%), medical care (up 2.8%) and other services...
...discount-rate hike might seem small to laymen-it rose from 4% to 4½-but the impact on housing is substantial. On a $20,000, 25-year mortgage, an increase of ½% raises costs by $6 a month, or $1,800 over the life of the loan. Conventional mortgage rates have already started to climb-to as much as 6¼% in San Francisco, Houston, Cincinnati and elsewhere-and are likely to rise a bit more. Hardest hit will be the Southeast, the Southwest and the Far West, which have to import much of their mortgage money from...
...Europe's fastest-moving growth rates, will probably slow to 4% or even 3.5% this year. Chief reason: economic expansion has resulted in a major labor shortage. Even with 1.2 million workers imported from other countries, there are five job openings for every unemployed person. Not surprisingly, wages rose 10% last year, squeezing profits and depressing capital investment. Though Germany still boasts the world's second highest exports (after the U.S.) and $7 billion in monetary reserves, the hunger of its increasingly well-to-do consumers for imports caused a 1965 net balance-of-payments deficit of more...